XRP Price Prediction as Ripple Labs Opens Up Liquidity Hubs in Brazil and Australia – Adoption on the Rise?
Ripple Labs, the creator of the decentralized XRP Ledger and issuer of the XRP cryptocurrency that powers it, is expanding its Liquidity Hub platform to Australia and Brazil.
Ripple’s Liquidity Hub functions as the US fintech company’s digital asset liquidity management service that it offers to large enterprises.
The platform supports services in BTC, ETH, LTC, ETC and BCH, as well as now USDT and USDC, but is yet to provide XRP.
While Ripple is yet to explain why it isn’t offering XRP on its Liquidity Hub platform yet, the fact that the fintech company continues to expand its global business is a good sign for XRP’s wider adoption.
As more and more firms begin using Ripple suite of alternative liquidity products, more are likely to turn to the firm’s XRP-powered On-Demand Liquidity service, which should boost XRP demand in the long-term.
Longer-term price predictions are thus likely to remain bullish, especially given that Ripple currently has the upper hand in its ongoing lawsuit versus the US SEC, who are suing the firm over XRP sales, which it calls an unregistered security.
However, in the short-term, news regarding this ongoing lawsuit will continue to buffer the price action.
A district judge presiding over the case ruled that XRP was not necessarily a security back in July, though the SEC has filed a motion for an appeal to challenge the ruling, and a decision on whether to grant this appeal is yet to be made.
XRP was last changing hands close to $0.50 per token, having failed an attempt to push above its 21 and 200DMAs earlier in the session.
However, if XRP can break above this resistance zone, the door is open for a swift test of resistance in the $0.56 area is likely.
That could mean quick near-term gains in the
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